Delaware Chancery Says Reasonably Sound Sales Process Delivered Fair Value

BVLaw
Court Case Digests
July 30, 2018
7371 Computer Programming Services
541511 Custom Computer Programming Services
shareholder dissent/oppression
expert testimony, fair value, mergers and acquisitions (M&A), discounted cash flow (DCF), merger price, statutory appraisal, private equity, synergy, projections, going concern value, ''Dell compliant''

In re Appraisal Solera Holdings, Inc.
2018 Del. Ch. LEXIS 256
US
State Court
Delaware
Court of Chancery
Bradford Cornell (plaintiffs); Glenn Hubbard (respondent/company)
Bouchard

Summary

In an appraisal proceeding, the Chancery finds the deal price minus synergies provides the best evidence of fair value; court says there was an efficient market and the sales process, though not perfect, was able to deliver the value generated in an arm’s-length transaction.

See Also

In re Appraisal Solera Holdings, Inc.

In an appraisal proceeding, the Chancery finds the deal price minus synergies provides the best evidence of fair value; court says there was an efficient market and the sales process, though not perfect, was able to deliver the value generated in an arm’s-length transaction.